Nigeria Eyes Position Among 15 Largest Economies By 2025 - DAILY TRUST

AUGUST 13, 2020

By Francis Arinze Iloani

The Federal Government has launched the Nigerian Trade Policy Roadmap designed to position Nigeria as one of the 15 largest economies in the world by 2025.

The Roadmap was unveiled on Tuesday in Abuja by the Acting Chief Trade Negotiator/Director General of the Nigerian Office for Trade Negotiations (NOTN), Victor Liman.

"This roadmap provides an ambitious and aggressive plan for fuelling Nigeria's trade growth, and harvesting that growth to put the Nigerian economy on a rapid growth path," Liman said.

The Roadmap, seen by Daily Trust, revealed that Nigeria's trade policy should provide a framework for increasing the share of trade in Gross Domestic Product (GDP) to 50%, and the workforce share employed in trade-related industries to 28% by 2023.

Liman said: "Supporting tools and mechanics for free trade, which include baseline thresholds of macro-economic stability, financial management, broad national reforms to open markets, eased land borders and air space movement among others are all under threat as a result of COVID-19 pandemic," he said.

Liman also said a broad multi-sectoral and coordinated response is required by Nigeria internally and regionally to sustain the economy, recover the losses and grow the economy towards sustainability.


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